2013 Idaho Statutes
Title 43 - IRRIGATION DISTRICTS
Chapter 3 - POWERS AND DUTIES OF BOARD OF DIRECTORS
Section 43-322 - POWER TO INCUR DEBTS -- WARRANTS.
Provided, further, that for the purpose of defraying the expenses in the care, operation, repair and improvement of such portion of the irrigation works of the district as are completed and in use, including salaries of officers and employees, the board of directors of an irrigation district may at any time issue warrants of such district in payment of claims of indebtedness against the district, not to exceed the district's anticipated revenue.
The warrants herein authorized shall be in form and substance the same as county warrants or as near the same as may be practicable and shall be signed by the chairman and attested by the secretary of said board. All such warrants shall be presented by the holder thereof to the treasurer of the district for payment who shall indorse thereon the day of presentation for payment with the additional indorsement thereon, in case of nonpayment, that they are not paid for want of funds, and such warrants shall draw interest at a rate to be established by the board of directors from the date of their presentation to the treasurer for payment as aforesaid until such warrants are paid. No warrants shall be issued in payment of any indebtedness of such district for less than face or par value. It shall be the duty of the treasurer from time to time when he has sufficient funds in his hands for that purpose to advertise in some newspaper in the county in which the district is situated requiring the presentation to him for payment of as many of the outstanding warrants as he may be able to pay. Ten (10) days after the first publication of said notice by the treasurer calling in any of said outstanding warrants, said warrants shall cease to bear interest, which shall be stated in the notice. Said notice shall be published two (2) weeks consecutively and said warrants shall be called in and paid in the order of their indorsement.
Provided, further, after an irrigation district has organized and has no warrants outstanding, the district may maintain its operation on a cash basis and pay by check the expenses of operation and maintenance, repair, improvement, obligations on contractual or bonded indebtedness, and all other general necessary expenses incurred by the district.
The board of directors, or other officers of the district, may incur debt by contracting indebtedness with a money-lending institution, subject to the election requirements contained in section 43-401, Idaho Code, but the term of such indebtedness shall not exceed twenty (20) years.
History:
[(43-322) 1903, p. 150, sec. 41; reen. R.C. & C.L., sec. 2392; C.S., sec. 4355; am. 1923, ch. 61, sec. 1, p. 69; am. 1925, ch. 134, sec. 1, p. 236; I.C.A., sec. 42-317; am. 1967, ch. 211, sec. 1, p. 641; am. 1976, ch. 251, sec. 2, p. 859; am. 1980, ch. 61, sec. 9, p. 122.]
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